New Jersey Quitclaim Deed Dedicating Land to City for Public Use
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How to fill out Quitclaim Deed Dedicating Land To City For Public Use?
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FAQ
In both New York and New Jersey, the most common types of deeds used in property transfers are quitclaim deeds and bargain and sale deeds. Each type offers different levels of protection and guarantees regarding the ownership and title of the property.
This Deed is called a Quitclaim Deed. The Grantor makes no promises as to ownership or title, but simply transfers whatever interest the Grantor has to the Grantee.
A form of deed that transfers fee title and legal interests in real property from the grantor to the grantee. In New Jersey, a quit claim deed conveys title in fee simple without any covenants or warranties of title.
While quitclaim deeds offer some benefits, there are also significant risks and disadvantages associated with their use. One major disadvantage is that the grantee assumes all risks associated with the property, including any defects in the title, liens, or encumbrances.
A Warranty Deed is the best of the best. It protects you from all future and past issues with property title and any outstanding debts or liens.
Involuntary Dedication. Dedication is the transfer of real estate from private ownership to public ownership, without payment to the private owner.
Note that the Grantor may legally prepare his or her own deed, but only an attorney licensed in the State of New Jersey can prepare a deed for someone else.
Cost of preparing a quitclaim deed: can be around $500 or so. Same-day deeds often require a small additional fee. County Clerk Registration Fee: Approximately $105. The seller must pay a real estate transfer fee based on the sale price of the property.
